Iva_Kap (@iva_kap) • Hey
Contributor at Rarify Labs, building the next generation of interoperable assets and identities
Publications
- Paul Veradittakit from Pantera has written about why Rarimo is so well-positioned to bring interoperability to decentralized social layers 🔥⛓️
Find out more in his blog
https://www.veradiverdict.com/p/rarimo
- It's time for a relooking ...
Want a sneak preview of what the best writing experience on Lens protocol will look like?
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- **`The Importance of Interoperability in Blockchain`**
Blockchain technology has been gaining attention for its potential to transform industries and revolutionize the way we exchange value. However, for blockchain to reach its full potential, interoperability is key.
In the past, traditional operating systems had applications that couldn't be used across the board. Similarly, in the blockchain world, different blockchains have their own set of rules and protocols, making it difficult for them to communicate with each other. This is where interoperability comes in.
Interoperability allows different blockchains to communicate with each other seamlessly, unlocking the potential of blockchain and Web3 adoption. Blockchains optimize for scalability, security, and decentralization, but without interoperability, blockchains cannot communicate with each other and their potential is limited.
Infrastructure-level tools are being built to make interoperability easier. XCM is one such tool that enables interoperability between different blockchains. Cross Chain DEX Aggregator and Privacy NFTs are examples of tools for interoperability that are being developed.
Privacy-centric projects like Polka Dot ecosystem and Moonbeam are building tools for privacy-related applications. Chain swap allows easy exchange of tokens between blockchains, while Manta Network allows users to mint and privatize NFTs on the network.
Other interoperability projects like Crust Network incentivize the use of IP in a decentralized cloud storage protocol, and the Cross-chain Dax Aggregator can be used to swap tokens and avoid fees. However, attracting users to Web3 is still a challenge.
In summary, interoperability enables new use cases for privacy and utility tokens in blockchain and Web3. Infrastructure-level tools and privacy-centric projects are progressing, but interoperability remains necessary for a more open and accessible blockchain ecosystem.